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Robert Wenzel

Free Lunches for One and All In light of Sleepy Joe’s swell new $1.9 trillion package of more free stuff, it’s time to get out our magnifying glasses again. The purpose is to compute the size of the hole in America’s collective paycheck that purportedly requires such continued, extraordinary beneficence from our not so rich Uncle Sam. To repeat: There is no reason in the world why the February (pre-Covid) level of wage and salary disbursements is not a solid and appropriate benchmark for measuring the pocketbook hit from the Covid-Lockdowns that have wreaked havoc on the US economy sinc...

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

Paul Krugman Although Paul Krugman has clashed with Stephanie Kelton over her absurd book claiming that deficits don't matter (See my rebuttal: Problems With Modern Monetary Theory: A Comment on Stephanie Kelton’s "The Deficit Myth"), Krugman sounds as though he is now part of the MMT camp. In his latest New York Times column, he writes: [I]t’s a completely safe prediction that once Joe Biden is sworn in, we will once again hear lots of righteous Republican ranting about the evils of borrowing. What’s less clear is whether we’ll see a repeat of what happened during the Obama years, ...